January 16, 2015

Santa Fe New Mexican: Tax system puts big burden on low-paid

media mention

According to a new report, New Mexico tax policy is moving in the wrong direction, as a reduction in corporate taxes coupled with increases in gross receipts taxes is putting a greater share of the burden of financing public services on working families.

The report, “Who Pays,” released Wednesday by the Institute on Taxation and Economic Policy, ranks New Mexico in the upper third of states for tax inequality, meaning a larger share of the tax burden falls on lower-income households. New Mexico was ranked 17th for tax unfairness, which means 33 states have a more equitable mix of taxes.

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